Economic Strategy regulations

STATEMENT FROM CANADIAN MANUFACTURERS & EXPORTERS ON FISCAL UPDATE

OTTAWA, ON, Nov. 30, 2020 – Canadian Manufacturers & Exporters (CME) welcomes the $100 billion stimulus package aimed at creating one million jobs over the next three years, outlined in Finance Minister Chrystia Freeland’s Fall Economic Statement.

Today’s statement clearly recognizes the important role played by manufacturers, specifically with its focus on creating good, middle class jobs.

“Manufacturers are part of the solution, and we believe that we are well-positioned to work with government in helping to create those good, middle class jobs that Minister Freeland emphasized in her statement,” says CME President and CEO Dennis Darby.

CME was especially pleased to see the increase to the Canada Emergency Wage Subsidy from 65 per cent to 75 per cent, starting on December 20, 2020 and extended until March 13, 2021.

In addition, the Canada Emergency Rent Subsidy and extra 25 per cent lockdown support, which will be extended until March 13, 2021, will help support workers in the manufacturing sector. These are positive moves for manufacturers and manufacturing, which has the capacity to help put the Canadian economy back on track.

Manufacturers stepped up and pivoted at the beginning of the crisis to produce necessary goods, such as personal protective equipment (PPE) so that frontline healthcare workers, and all Canadians, were kept safe.

Said Darby: “The global coronavirus pandemic has shown Canadians how important it is to have manufactured goods in Canada, including PPE and vaccines.”

The focus on women in the FES is also welcomed. It has been a priority of the CME for that past four years to attract more women and we are happy to work with government on an action plan. Committing to funding a national childcare system is a positive start.

This is a good start to an economic recovery – and manufacturers are already making a big contribution.

About Canadian Manufacturers & Exporters

Since 1871, Canadian Manufacturers & Exporters has been helping manufacturers grow at home and, compete around the world. Our focus is to ensure manufacturers are recognized as engines for growth in the economy, with Canada acknowledged as both a global leader and innovator in advanced manufacturing and a global leader in exporting. CME is a member-driven association that directly represents more than 2,500 leading companies who account for an estimated 82 per cent of manufacturing output and 90 per cent of Canada’s exports.

For more information

Ady Stefan Calin
Manager, Communications & Branding
Canadian Manufacturers & Exporters
(514) 293-3765
ady.calin@cme-mec.ca